LAC_A_Review_of_DOR's_Vehicle_Assessment_Guides_2000_Summary.pdf

Subject

Description

The Council found that the vehicle assessment guides for cars and trucks published by the Department of Revenue in October 1999 contained a significant number of incorrect values, most of which resulted in an individual’s property tax bill being higher than it should have been. In many cases the agency used the higher retail instead of loan value as the fair market value. It also identified other problems with the vehicle assessment guides.

The Council found that the vehicle assessment guides for cars and trucks published by the Department of Revenue in October 1999 contained a significant number of incorrect values, most of which resulted in an individual’s property tax bill being higher than it should have been. In many cases the agency used the higher retail instead of loan value as the fair market value. It also identified other problems with the vehicle assessment guides.